NASCAR: Charlotte city officials propose deal to waive debts on Hall of Fame

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source: Getty Images
The NASCAR Hall of Fame has been open since 2010. Photo: Getty Images.

The NASCAR Hall of Fame has struggled to make money and bring in solid crowds since its 2010 opening in Charlotte, North Carolina. Now, the city has proposed a new deal to help get out of obligations that it owes on the building.

As part of the deal, the city would make a payment of $5 million to Wells Fargo and Bank of America on construction loans. This sum would come from a 2 percent hotel tax that was implemented during the Hall’s early development.

The banks would then forgive the remainder of a $19 million loan, and NASCAR itself would waive $3.2 million in royalties that it has not yet received due to the Hall’s financial struggles.

NASCAR would also see its future royalty payments reduced from 10 percent of Hall revenues to 3 percent of revenues in excess of more than $10 million.

Additionally, the Charlotte Regional Visitors Authority, operators of the Hall, would give each bank five years of Hall sponsorship, valued at $250,000 annually.

The Charlotte city council is expected to vote on the deal next Monday.

Deputy City Manager Ron Kimble said to the Charlotte Observer that the goal was to “bring the Hall into a break-even position,” but the Observer’s Steve Harrison reports that the Hall is still expected to lose money in future years even if the proposal goes through.

Adding to the difficult situation, NBC Charlotte (WCNC-TV) reports that members of the council are mixed on the proposal and whether or not the Hall can survive on its own even if the debt is paid off.

The Hall was expected to bring in 400,000 visitors annually, but last year, it only attracted 170,000 visitors. It has also lost more than $1 million per year since opening its doors, and corporate sponsorships that it expected to sell and use to pay off the bank loans have not come to fruition often enough.

A second, $20 million loan was also used to help build the Hall in addition to the aforementioned one. This loan involves the sale of public land near the Hall.

The Observer report notes that the city has already sold one part of the land and also has a contract of nearly $10 million in place to sell another part. It expects to eventually pay off this loan in full.

World of Outlaws release 2023 Sprint Car Series schedule

2023 Outlaws Sprint schedule
World of Outlaws
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The 2023 World of Outlaws Sprint Car Series schedule features 87 races, almost identical to the last year’s number, to be contested at 36 venues across 19 states. With cancelations for mostly weather, they closed out this year’s calendar on November 5 with 69 events in the books. Carson Macedo won a series high 11 races.

In 2022, David Gravel chased Brad Sweet into the three-race finale on the Dirt Track at Charlotte Motor Speedway in one of the most hotly contested championships in Outlaws history. Sweet emerged victorious for the fourth straight year.

For the 19th consecutive season, the Outlaws Sprints will begin their season at Volusia Speedway Park for the DIRTcar Nationals from Feb. 9-11 and will return March 5-6 for another two-day show before hitting the road with a three-track swing into Pennsylvania to take on the Posse.

MORE: 2023 World of Outlaws Late Model Schedule

“Every year we continue to build the best schedule we can for drivers and fans across the country,” said World of Outlaws CEO Brian Carter is a series release. “I’m excited for the journey we’ve put together, which includes the biggest races in Sprint Car racing, our new Spring Swing through Pennsylvania, the thrill of combining the World of Outlaws and ‘Bike Week’ and so much more.”

Some tracks returning from hiatus and one brand new course include 81 Speedway in Park City, Kans. in April and again in October, Tri-City Speedway in Pontoon City, Ill. in April, Ogilvie (Minn.) Raceway in June and BAPS Motor Speedway in York Haven, Penn.

BAPS hosts its first race in more than 30 years when the track was known as Susquehanna Speedway. This midweek show will give the local Pennsylvania Posse 14 attempts to beat the traveling Outlaws.

Ogilvie Speedway is completely new to the series and makes it the 224th different venue they will have challenged.

MORE: Brad Sweet protects his place in history

Notably missing from the calendar are Vado (N.M.) Speedway Park, Cotton Bowl Speedway in Paige, Texas, Bakersfield (Calif.) Speedway and the Bristol Motor Speedway Dirt Track.

In addition to the new spring Pennsylvania Swing, the second date at Volusia Speedway will coincide with Daytona Beach’s Bike Week and bring new eyes to the sport.

Knoxville Raceway adds another multi-night show to the calendar in April, giving this track eight sanctioned events in 2023.

And of course, there are plenty of mainstays and high dollar events, such as the Memorial Day Spectacular at Lawrenceburg (Ind.) Speedway, the 35th running of the Brad Doty Classic in July and the Labor Day Spectacular at Gray’s Harbor in Elma, Wash.

Several big paydays are on the line in 2023 including the 40th annual Kings Royal at Eldora Speedway in Rossburg, Ohio paying $175,000 to the winner, the Huset’s High Bank Nationals’ $250,000-to-win finale and the grandaddy of them all, the 62nd Knoxville Nationals with a total purse exceeding $1 million.

2023 Outlaws Sprint Schedule

Thursday-Saturday, Feb. 9-11 – Volusia Speedway Park (Barberville, FL)

Sunday-Monday, March 5-6 – Volusia Speedway Park (Barberville, FL)
Friday-Saturday, March 10-11 – Port Royal Speedway (Port Royal, PA)
Friday, March 17 – Williams Grove Speedway (Mechanicsburg, PA)
Saturday, March 18 – Lincoln Speedway (Abbottstown, PA)
Friday, March 24 – Talladega Short Track (Eastaboga, AL)
Saturday, March 25 – Magnolia Motor Speedway (Columbus, MS)
Friday, March 31-Saturday, April 1 – Devil’s Bowl Speedway (Mesquite, TX)

Friday, April 7 – US-36 Raceway (Osborn, MO)
Saturday, April 8 – 81 Speedway (Park City, KS)
Friday-Saturday, April 14-15 – Federated Auto Parts Raceway at I-55 (Pevely, MO)
Friday-Saturday, April 21-22 – Knoxville Raceway (Knoxville, IA)
Friday, April 28 – Tri-City Speedway (Granite City, IL)
Saturday, April 29 – Tri-State Speedway (Haubstadt, IN)

Friday-Saturday, May 5-6 – Eldora Speedway (Rossburg, OH)
Wednesday, May 10 – Lincoln Speedway (Abbottstown, PA)
Friday-Saturday, May 12-13 – Williams Grove Speedway (Mechanicsburg, PA)
Friday, May 19 – Attica Raceway Park (Attica, OH)
Saturday, May 20 – Sharon Speedway (Hartford, OH)
Friday-Saturday, May 26-27 – Atomic Speedway (Chillicothe, OH)
Monday, May 29 – Lawrenceburg Speedway (Lawrenceburg, IN)

Friday, June 2 – River Cities Speedway (Grand Forks, ND)
Saturday, June 3 – Ogilvie Raceway (Ogilvie, MN)
Friday-Saturday, June 9-10 – Knoxville Raceway (Knoxville, IA)
Friday-Saturday, June 16-17 – Beaver Dam Raceway (Beaver Dam, WI)
Wednesday-Saturday, June 21-24 – Huset’s Speedway (Brandon, SD)
Friday, June 30-Saturday, July 1 – Cedar Lake Speedway (New Richmond, WI)

Friday, July 7 – 34 Raceway (West Burlington, IA)
Saturday, July 8 – Wilmot Raceway (Wilmot, WI)
Tuesday, July 11 – Attica Raceway Park (Attica, OH)
Friday-Saturday, July 14-15 – Eldora Speedway (Rossburg, OH)
Wednesday, July 19 – BAPS Motor Speedway (York Haven, PA)
Friday-Saturday, July 21-22 – Williams Grove Speedway (Mechanicsburg, PA)
Saturday-Sunday, July 29-30 – Weedsport Speedway (Weedsport, NY)

Friday-Saturday, Aug. 4-5 – Federated Auto Parts Raceway at I-55 (Pevely, MO)
Wednesday-Saturday, Aug. 9-12 – Knoxville Raceway (Knoxville, IA)
Thursday-Saturday, Aug. 17-19 – Jackson Motorplex (Jackson, MN)
Friday, Aug. 25 – River Cities Speedway (Grand Forks, ND)
Saturday, Aug. 26 – Red River Valley Speedway (West Fargo, ND)
Thursday, Aug. 31-Saturday, September 2 – Skagit Speedway (Alger, WA)

Monday, Sept. 4 – Grays Harbor Raceway (Elma, WA)
Thursday-Saturday, Sept. 7-9 – Silver Dollar Speedway (Chico, CA)
Friday, Sept. 15 – Keller Auto Speedway (Hanford, CA)
Saturday, Sept. 16 – Placerville Speedway (Placerville, CA)
Friday, Sept. 22 – Eldora Speedway (Rossburg, OH)
Saturday, Sept. 23 – Sharon Speedway (Hartford, OH)
Friday-Saturday, Sept. 29-30 – Williams Grove Speedway (Mechanicsburg, PA)

Friday-Saturday, Oct. 6-7 – Port Royal Speedway (Port Royal, PA)
Friday, Oct. 13 – 81 Speedway (Park City, KS)
Saturday, Oct. 14 – Lakeside Speedway (Kansas City, KS)
Friday-Saturday, Oct. 20-21 – TBA

Wednesday-Saturday, Nov. 1-4 – The Dirt Track at Charlotte (Concord, NC)